Forex Previews

ECB meeting: Draghi’s farewell to arms – Forex News Preview

Posted on October 22, 2019 at 1:35 pm GMT

The European Central Bank (ECB) will announce its decision on Thursday at 11:45 GMT, and a press conference will follow at 12:30 GMT. This will be the final meeting under President Mario Draghi, before Christine Lagarde takes over. No action is expected, so any market reaction will come from the hints on future easing. Given deep divisions within the ECB about more stimulus and a calmer global environment, policymakers are unlikely to signal more action for now, so the euro [..]

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Canadian retail sales to continue rebound in August; loonie braces for election results – Forex News Preview

Posted on October 21, 2019 at 3:46 pm GMT

Retail sales numbers for August are due out of Canada on Tuesday at 12:30 GMT. However, traders are likely to be more preoccupied with the outcome of Monday’s federal election in Canada where the incumbent prime minister, Justin Trudeau, is in a closely fought race with his Conservative rival, Andrew Scheer, with the two parties neck-and-neck in the polls. The Canadian dollar has been buoyed recently, rallying to 3-month highs versus the US dollar, as trade war and Brexit worries [..]

Week Ahead – Draghi’s last ECB meeting and Brexit vote to headline muted data week; flash PMIs eyed too

Posted on October 18, 2019 at 11:58 am GMT

It will be relatively quiet on the data front in the coming week with just a handful of top-tier releases, but Mario Draghi’s last ever policy meeting at the helm of the European Central Bank should make for an interesting week. The ECB meeting will not be the only policy gathering in Europe as the Swedish and Norwegian central banks will also be setting monetary policy. Brexit, meanwhile, will remain centre stage as a rejected deal could greet traders on [..]

China’s GDP growth may not be bright in Q3 as tariffs weigh – Forex News Preview

Posted on October 17, 2019 at 12:14 pm GMT

Trump said that the US and China are in a primary phase of a broader agreement last week, announcing an outline without convincing details on the terms agreed between the sides. While the US President cancelled additional tariffs this month, levies imposed since the start of 2018 remain intact, with analysts anticipating softer Q3 GDP growth readings out of China on Friday at 02:00 GMT. On Tuesday, the People’s Bank of China reported that the money supply grew faster in September through [..]

Australian jobs data eyed for rate clues as aussie struggles to gain traction – Forex News Preview

Posted on October 15, 2019 at 3:01 pm GMT

The latest employment numbers are due out of Australia on Thursday (0030 GMT) and may help investors get a better sense about the state of the labour market amid some mixed signals. Developments in the labour market are a key factor in monetary policy setting by the Reserve Bank of Australia, while the twists and turns in the long-running trade war saga have also been influencing policymakers’ thinking. The Australian dollar is unlikely to catch a break anytime soon as [..]

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Can New Zealand’s inflation data save the battered kiwi? – Forex News Preview

Posted on October 15, 2019 at 2:58 pm GMT

The latest inflation figures out of New Zealand will hit the markets during the early Asian session on Wednesday (21:45 GMT Tuesday). Forecasts point to a slowdown, which if met, would all but guarantee another RBNZ rate cut next month. As for the kiwi, the outlook remains dark as both the domestic and the global economy are weakening, and even a positive surprise in these data may be unable to keep the battered currency supported for long. Insecure New Zealand’s [..]

UK data eyed, but Brexit is all that matters for sterling – Forex News Preview

Posted on October 15, 2019 at 12:45 pm GMT

The latest UK inflation and retail sales data are due on Wednesday and Thursday respectively, but as usual, Brexit news will dominate price action in the pound. Focus remains on whether a deal can be struck in the coming days, which is very doubtful. As for the pound, the relief rally may not be over just yet, as most potential near-term outcomes seem favorable. Either a deal gets done now, or the UK gets an extension that is followed by [..]

US retail sales to remain steady in September; may not help case for October rate cut – Forex News Preview

Posted on October 15, 2019 at 11:47 am GMT

Retail sales figures will be the main highlight of the US economic calendar this week as investors keep a close eye on the strength of household consumption amid signs of weakness in other parts of the American economy. The data, due on Wednesday at 12:30 GMT, could be significant for the Federal Reserve’s next policy decision on October 29-30. But policymakers will also be watching a number of manufacturing gauges expected this week as the sector struggles under the weight [..]

Week Ahead – Big week for Chinese data; make or break time (again) for Brexit

Posted on October 11, 2019 at 12:49 pm GMT

Monthly reports on inflation, retail sales and employment will get into full swing next week, but China is likely to steal the limelight as it will have the busiest calendar. All eyes will be on the third quarter GDP estimate as China battles to prevent a hard landing of its economy amid a deepening trade dispute with the United States. But the ongoing trade war isn’t the only thing that will be causing fatigue for investors as the Brexit drama [..]

UK GDP growth looks fragile as Brexit confusion mounts – Forex News Preview

Posted on October 9, 2019 at 3:29 pm GMT

Monthly GDP growth readings for the month of August will come out of the UK on Thursday at 08:30 GMT and forecasts argue for a pullback in expansion as recent data out of the services sector have already warned. While the Brexit turmoil is holding the central bank’s hands tied, policymakers may not wait for long to join the dovish camp. Where are we on Brexit? The UK Prime Minister Boris Johnson has submitted a new Brexit proposal to the European Commission [..]

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